Asia shares fall on tech, Japan slump

JasminaKelemen

SAN FRANCISCO (MarketWatch) -- Asia shares listed in the United States Wednesday reversed previous gains, hit by a slumping tech sector and a drop in consumer confidence in Japan.

The Bank of New York Asia American Depositary Receipt Index was down 1.47 points, or 1.2%, to 120.84, while the overall Composite Index slid 1.25 points, or nearly 1%, to 127.82.

Earlier, Japan's bellwether Nikkei 225 closed down 0.7% at 13,463.74. The Nikkei slip came after government data showed a drop in consumer confidence and the Bank of Japan left monetary policy unchanged. See full story.

In earnings news, LG Philips
LPL, -0.35%
shares fell 19 cents, or nearly 1%, to $19.26 after the company warned that LCD screen prices would stay weak until the end of the year, raising worries over its outlook and triggering selling in technology shares on South Korea's benchmark Kospi.

Au Optronics
AUO, -2.94%
ticked down fell 49 cents, or 4%, to $11.49, and United Microelectronics
UMC, -1.64%
shares moved 6 cents lower, or 1.8%, to $3.21, in sympathy.

Shares of Taiwan Semiconductor Manufacturing
TSM, -1.94%
could not withstand overall weakness in the sector, declining 10 cents, or 1.2%, despite an upgrade from Merrill Lynch to buy from neutral.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.